New Delhi, Mar 28 (PTI) To facilitate ease of doing business, Sebi on Friday extended the timelines for portfolio managers and mutual funds for submission of offsite inspection data to the markets regulator.

Under this, mutual funds will have to submit the daily data in a monthly file as per the specified formats on a quarterly basis within 15 calendar days from end of the quarter against the current requirement of 10 calendar days, Sebi said in a circular.

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RTAs will be required to submit such said data on an ongoing basis.

As a part of off-site inspection and surveillance of Mutual Funds and to monitor the compliance of the mutual fund norms, Sebi has framed the data structure and all the mutual funds along with RTAs associated with them are required to furnish the data to it.

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Similarly, portfolio managers will be required to submit data in a specified format for all its clients on a quarterly basis within 15 calendar days from end of the quarter. Day-wise data will be furnished for table headings -- 'Client Folio AUM' and 'Client Holding Master'.

"Portfolio Managers shall submit data for all their clients from April 01, 2023 onwards," Sebi said.

The decision has been taken based on the feedback received from the industry and to facilitate ease of doing business.

"It has been decided to extend the timelines for submission of offsite inspection data," Sebi said.

The decision will come into force with immediate effect.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)